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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: j lawrence who wrote (2113)	8/25/1998 4:49:00 PM
From: Bill Wexler	Read Replies (4) \| Respond to of 4634

Perhaps, but I think the bigger problem is that they don't do enough of their own. Peter Lynch made an interesting point in one of his books: A guy who works in the oil industry (for example) will go out and buy a stock in a shoe company - a business he knows nothing about; in the meantime, he completely misses the boat on companies he is doing business with or even the very company he works for. I noticed that the small investors who cheerlead for these scam stocks really have no clue what they are doing. They will try desperately to become "experts" in whatever gee-whiz technology their racehorse may be promoting, and will make unrealistic projections about future business prospects. These people are easy prey for stock touts who will sell them grossly overpriced shares and feed them false hopes. Check out the CCSI thread (here and on Yahoo)...there is a poster there named "janybird" who I understand is an Illinois housewife who runs an air-conditioning business. She posts nearly nonstop about CCSI's "technology" (infant Bilirubin jaundice tests) even after the stock was exposed as a heavily manipulated "chop stock" and fraud. I really feel sorry for this woman and I understand her frustration, but I must ask why an intelligent person who has experience in the appliance business in Illionis would buy a micro-cap biotech firm in New York with dubious management and absolutely no record of revenues or earnings. Seems to me she would have done much better going to Vegas and putting it all on the pass line.